Search ForexCrunch
  • ETH/USD is capped by $139.00 handle.  
  • Vitalik Buterin said he was satisfied with the existing governance model.  

ETH/USD is hovering under $139.00 amid slow trading session. The second largest coin is confined to a tight range, staying unchanged since this time on Tuesday.    

The coin is moving in sync with the rest of the market, with the upside potential above $140.00. Once this barrier is cleared, new speculative buyers may pop in and push the price towards the recent high above $146.00. Meanwhile, $150.00 remains the key barrier that separates us from a sustainable recovery.  

On the downside, watch out for $136.00 strengthened by SMA100 (4-hour) on approach. The next critical barrier comes as low as $130.00 with DMA50 spotted right below this level.    

What’s going on  

Speaking in the recent episode of  Into the Ether podcast, Ethereum founder Vitalik Buterin shared his views for the Ethereum’s governance model. He believes that the existing model passed a tough test, guiding the project through the recent protocol issues.  

“I actually think that Ethereum governance is under-rated at this point. Because it’s not something that we can attach a cool name to and advertise. And honestly, moderation is a less exciting pitch for people than either on-chain votes, maximum coin holder engagement, or on the other hand immutability. We as a community have never tended to go for extremes. But in reality, on the one hand people complain about governance as a process. But on the other hand, in terms of concrete outcomes that Ethereum governance has achieved, it’s done really well,” he said.

Ethereum network underwent a major updates known as Constantinople and Saint-Petersburg. The updates were activated  at block    #7280000 and went just as planned, allowing Ethereum to grow after a prolonged period of uncertainty..

ETH/USD, 1D chart